Internet And Record Companies Make Deal

The recording industry and Internet music broadcasters hope a new agreement will prevent a repeat of their recent battle over online music royalties, allowing them to focus instead on providing better music services for consumers.

The two sides agreed Thursday on how much big webcasters like Yahoo!, America Online, Microsoft and RealNetworks must pay to broadcast songs over the Internet during 2003 and 2004.

The new deal, if approved by the U.S. Copyright Office, will allow the two industries to avoid a lengthy arbitration process to set the royalty rates.

“We are delighted to have reached an agreement that will bring compensation to musicians without a costly arbitration,” said Thomas Lee, president of the American Federation of Musicians. “We hope webcasting will bring more music to more fans.”

Source CNN.com.

Related Content

Recent Posts

New to Glide

Keep up-to-date with Glide

Twitter